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The meeting of the provincial Standing Party Committee on solutions for the sustainable socio-economic development

Wednesday, 30/08/2017

On 8/28/2017, chaired by comrade Hoang Thi Thuy Lan, member of the Party Central Committee, Secretary of the Provincial Party Committee, Head of the provincial delegation of the National Assembly XIV, the Provincial Standing Party Committee had a meeting on the report of assessing the impact of international integration on the automobile and motorbike sector of the province and proposed the solutions in the coming time and other important contents.

Secretary Hoang Thi Thuy Lan concludes the meeting.

At present, there are 35 projects on the fields of automobile-motorbike (34 FDI and one DDI) with a total investment capital of more than USD 830 million. The production of enterprises in the last years has strongly developed, contributing to promote the economic growth, increase the budget revenue and create jobs for laborers in the province. Recently, however, enterprises have not paid attention to the supportive industry for automobile and motorcycle sectors. The reason is due to the two big companies of the province have reached the design capacity; macro policies for the automobile industry have constantly changed, been unstable, and in particular, Vietnam is implementing the tariff reduction (down to 0% in 2018) so the enterprises are waiting for the situation of the market and new policies of the State before deciding on investment. The two large companies - Toyota Vietnam and Honda Vietnam, also stopped producing and imported two lines of automobike so that the budget revenue of the province in the first 6 months decreased. It is predicted that in the coming time, Vietnam's implementation of FTAs ​​will have a great impact on the domestic economy, including the car-motor industry. This is a large challenge for Vinh Phuc because the automobile-motorbike industry contributes significantly to the State budget. From that fact, the provincial People's Committee proposed some solutions to maintain the stability and development for the automobile-motor industry in the coming time, focusing on developing solutions to remove difficulties for enterprises; enhancing the atttraction and promotion of supporting industries in the automotive and motorcycle industries; suggested the Government some tax issues, supporting domestic production ...

Concluding this content, Secretary Hoang Thi Thuy Lan stressed that in the last years, identifying the right direction, the province has focused on attracting investment in industry, especially the automobile-motocycle industry. As a result, the province's economy always maintains the high growth rate with the increasing budget revenue but unsustainable. Thus, in order to successfully achieve the goal of Resolution of the 16th provincial Party Congress, it is necessary to overcome these shortcomings.

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